According to a report by Marketing and Marketing Research Pvt. Limited, the Video Streaming Software Market is expected to experience significant growth in the coming years. The market is projected to increase from $13.3 billion in 2024 to $29.7 billion by 2029, with a compound annual growth rate of 17.5%. The demand for OTT services for entertainment is a key driving factor for this growth.
Key dynamics of the Video Streaming Software Market include the increasing penetration of mobile devices with high internet usage, growing demand for VOD streaming, technological advancements in AI and ML, the need for video transcoding, and a rising demand for high-quality videos. However, challenges such as the high cost of content creation and piracy issues exist.
Top companies in the market include IBM, brightcove, Kaltura, Vidio, Vimeo, Agile content, Haivision, Panopto, Enghouse, and akamai. Transcoding and encoding solutions are expected to dominate the market, ensuring media content compatibility and flexibility in recoding options. Mobile app delivery will experience the highest CAGR, catering to the mobile-centric lifestyles of consumers globally.
In terms of verticals, the media and entertainment segment is anticipated to hold the largest market share due to streaming services offering extensive libraries across devices, which has led to an increase in user subscriptions. Video streaming software provides valuable data on viewer habits, enabling media companies to personalize content recommendations and user experiences. The COVID-19 pandemic accelerated the adoption of streaming software by facilitating remote workflows in content production.
Overall, the Video Streaming Software Market is poised for continued growth as streaming services invest in original content and expand their global reach. The adoption of video streaming software in media and entertainment is expected to increase, driven by technological advancements, cost-effectiveness, and the ability to reach global audiences.
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https://finance.yahoo.com/news/video-streaming-software-market-29-140000017.html